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3 years ago

what would the length of time you have had a checking or savings account help determine your credit score?

Business

1 answer:

GenaCL600 [577]3 years ago

8 0

It shows a pattern of responsibility.

If you have only had accounts for 1 month, it doesn't really give a full picture of whether or not you always make your payments on time, etc. However if you have had accounts for 20 years, creditors have more history to look through to determine if you are responsible.

Keep in mind, checking and savings accounts are not the primary type of accounts that creditors want to look at because those only deal with spending money you already have. Lenders really want to know how you handle money that you borrow, such as school loans, credit cards, rent payments, and auto loans.

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Mr. and Mrs. Pitt filed a joint tax return in 2017. The couple divorced in 2018. The IRS audited their 2017 return and determine

AURORKA [14]

Answer:

C. Because the couple is divorced, the IRS must apportion the deficiency between Mr. and Mrs. Pitt based on their relative contribution to their 2015 taxable income.

Explanation:

Because Mr and Mrs Pitt filed for a joint tax return in 2017 and got divorced in 2018 and IRS audited their tax return and found that they both underpaid their tax, the IRS must apportion the deficiency 50-50 between both of them based on their separate returns.

3 0

2 years ago

The Reynolds Corporation buys from its suppliers on terms of 2/19, net 50. Reynolds has not been utilizing the discounts offered

harina [27]

Answer:

23.68%

Explanation:

The computation of the cost of not taking a cash discount is shown below:-

Cost of not taking a cash discount = [Discount percentage ÷ (100% - Disc.%)] × (360 ÷ (Final due date - Discount period))

= (2% ÷ 98%) × (360 ÷ (50 - 19))

= 2.04% × 11.61

= 23.68%

Therefore for computing the cost of not taking a cash discount we simply applied the above formula.

4 0

2 years ago

One way to obtain the economically efficient amount of college education is for governments to subsidize college education. What

Karolina [17]

Answer:

The remaining part of the question is given below:

(Note that the subsidy can be granted to the education institutions or to the students directly or indirectly; for example, through low- interest student loans.)

a. P2-P0

b. P2-P1

c. P0-P1

d. P1

Correct Answer:

b. P2-P1

Explanation:

A pigouvian subsidy is a subsidy that is used to encourage behaviour that have positive effects on others who are not involved or society at large. Behaviors or actions that are a benefit to others who are not involved in the transaction are called positive externalities.

7 0

2 years ago

A car was purchased for $4500 down and payments of $375 at the end of each month for 5 years. Interest is 9.72% compounded month

agasfer [191]

Answer:

$21,080.2

Explanation:

The price of the car will be the down-payment plus the future value of 375 paid each month for 5 years compounded monthly at 9.72%.

The formula for calculating future value is

PV = P × 1 − (1+r)−n

PV is $350

r is 9.72 % or 0.0972 % per year or 0.0081

t is five year or 60 months

FV = 350 x (1-(1+0.0081)-60

0.0081

Fv =350 x 1-0.61628715419

0.0081

FV =350 x( 0.38371284581/0.00810

FV =350 x 47.371956

FV =16,580.20

The value of the car = $4500 + 16,580.20

=$21,080.2

7 0

2 years ago

When sold at a 40% discount, a sweater nets the merchant a 20% profit on the wholesale cost at which he initially purchased the

Airida [17]

Answer:

100%

Explanation:

Let the normal retail price of the sweater be 'SP' and the cost price be 'CP'

Therefore,

The selling price = SP - 40% of SP = SP - 0.4SP = 0.6SP

Now,

the profit = 20% of CP = 0.2CP

also,

Profit = Selling Price - Actual price

0.2CP = 0.6SP - CP

1.2CP = 0.6SP

CP = 0.5SP

SP = 2CP

thus,

Increase percentage in sweater marked up from wholesale at its normal retail price

= $\frac{SP-CP}{CP}\times 100$

= $\frac{2CP-CP}{CP}\times 100$

= 100%

3 0

2 years ago